Bitcoin is currently tracking down along the prior descending wedge pattern resistance which has now became support. We've also formed a nice downward channel resembling a bullish flag.
Two scenarios are currently at play here, one of which is Bitcoin dropping down towards $6,500 - $6,800 ranges and the second scenario is of Bitcoin performing a measured move above $10,500 which is still highly possible while we trend along the support.
Two scenarios are currently at play here, one of which is Bitcoin dropping down towards $6,500 - $6,800 ranges and the second scenario is of Bitcoin performing a measured move above $10,500 which is still highly possible while we trend along the support.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.